Bennett Corporation sold a piece of equipment on June 30, 2018, for $50,000 cash. The equipment had been purchased on January 1, 2014, for $150,000. The equipment had an estimated useful life of 6 year and a $30,000 residual value. Bennett Corp. has been using straight - line method of depreciation year - end of December 31st. Prepare any necessary journal entries on June 30, 2018, assuming that 2018 depreciation expense has not been recorded